In reading the course description I was immediately excited by the opportunity to work with a company on a real-world sustainable investing issue. Clearly the subject is of interest to me as sustainable investing. I read the literature on climate change, attended webinars hosted by all types of thinks tanks, NGO, universities, and consultants. I diligently listen to climate and sustainable investing podcasts while driving to school (fortunately my trip takes about 60 minutes, about the length of a through podcast). I have even gone so far as to read the risk sections of 10K’s to gain insight into what actions firms are taking to address climate change. I must admit that I have suffered through IPCC reports to better understand the climate science.
However, what I have come to appreciate is that so many of the sustainable investing actors are just talking past each other. It is not only about science or economics or political will or national security. What I have observed is that one constituency is waiting for another to finally “get a grip on reality” and act. Furthermore, solutions offered are often difficult if not unrealistic to implement.
What this speaks to is the Pool Table Problem. For this engagement to be successful requires perspective. There is a thought experiment about perspective that I find really appealing. It involves a pool table. From the level of the pool table a line of balls can appear as a single ball if lined up precisely. Yet, by changing angle (such as hovering over the table), the single ball is not a line of balls, but nothing has changes except perspective. It is all about perspective. Our client posits a question (their perspective), we must not only interpret this question and what it means within the context of sustainable investing but understand the rationale motivating this question. We must put the client’s interest first and not come to the engagement with any preconceived thoughts (this is where acquired knowledge can derail the project deliverable).
Perspective also extends to the team dynamic. We all come to this project with an enormous amount of intellectual curiosity, an unflappable work ethic, and enthusiasm to learn and apply our knowledge. But just as we must appreciate the problem from the client’s perspective, we must coalesce as a team. We must understand each other’s perspective on how they interpret this problem and possible solution sets. This will allow us to serve the client and is in our self-interest. This means having a sense of shared purpose, establishing trust and openness, willingness to correct mistakes, being interdependent, and work by consensus.
It seems to me that researching, analyzing, evaluating the situation, and coming to a satisfactory conclusion may not be the most challenging aspects of this engagement. Staying connected with the client and working as a team through what will be a challenging topic is the take-away.